Work Longer to save for old age

Recently I came across an article about Minister Lim Boon Heng who had called for workers to work longer to save for old age. (ST, April 30). This was in his opinion essential to counter the problems that might arise in the future due to the issue of Singapore’s ageing population. According to him, this was the best way to ensure that workers have enough savings for their retirement. In my opinion I strictly feel that this age is just a figure. There shouldn’t be any specific age that determines when it is time for a person to leave his job. Once employees reach the age of entitlement they can retire and claim whatever pension and CPF benefits are due – but they should not be obliged to do so. Employees should be allowed to contribute to the society so as long as they are able and willing to work, they can thus be allowed to deliver their services. A mandatory age for retirement is not necessary in the first place. In time, this would induce a mindset change in society such that it would be understood as normal that people stopped working when they were no longer able to continue, and not when they reached some arbitrary retirement age. The ability to work, not age should be taken into consideration the main criteria for continued employment. Employers should not be able to dismiss an employee on the grounds of age as this is not fair to those who are still fit and able to work. By imposing such mentality in our society’s mindset, it will thus help citizens to save more for their future by getting better returns for their savings.